In case you missed it, President Obama’s campaign to raise tax rates on the rich gained an interesting ally a few days ago – Ben Stein.
In an interview on CNN, the economist/ actor said he rarely agrees with the president’s policies, but raising taxes on millionaires is “totally fair and abosolutely necessary” to save the economy. In his State of the Union speech last week, Obama said millionaires should pay at least a 30 percent rate.
It’s fantasy to believe that the economy will fully recover without raising takes on the uber rich, Stein said.
The war of words between financial wizard Warren Buffett and Sen. Mitch McConnell is heating up. So far, the senator is losing. If McConnell wants to turn it around he needs to resurrect the shovel. (I’ll explain in a moment.)